Common Credit Report Errors and How to Fix Them | Bill Clanton

Common Credit Report Errors and How to Fix Them

Common Credit Report Errors and How to Fix Them

Your credit report is an important tool that lenders use to determine your creditworthiness, so it’s important to ensure that your credit report is accurate. Unfortunately, credit report errors are all too common, and they can have a significant impact on your credit score. In this guide, we’ll walk you through some of the most common credit report errors and how to fix them.

Common Credit Report Errors

There are several common credit report errors that you should be aware of:

  • Including incorrect personal information: check this carefully it can be a sign of a bigger problem
  • Outdated account information: See this article
  • ID Theft accounts: that you didn’t open
  • Mixed credit file: This occurs when information from another person’s credit report is mistakenly added to yours.
  • Deceased person’s information: This can happen if a credit reporting agency receives information that a person has died and mistakenly adds that information to your credit report.

How to Fix Credit Report Errors

If you find an error on your credit report, there are steps you can take to have it corrected. Here’s what to do:

  1. Contact the credit reporting agency: Start by contacting the credit reporting agency that issued the report with the error. Its beset to send a letter by certified mail. Explain the error and provide any documentation you have to support your dispute.
  2. Contact the creditor: If the error is related to a specific account, contact the creditor and provide them with the same information. They should investigate the error and update their records accordingly. Be sure you contact the bureau too, the FCRA requires disputes to go through the bureaus for liability to attach to the furnishers.
  3. Follow up: After submitting a dispute, follow up regularly to make sure the error has been corrected. Credit reporting agencies are required to investigate and respond to disputes within a certain timeframe, usually 30 to 45 days.

How to Protect Your Credit and Identity

To help prevent credit report errors from occurring, it’s important to take steps to protect your credit and identity. Here are some tips:

  • Check your credit report regularly: Review your credit report at least once a year to ensure that it’s accurate.
  • Sign up for identity theft protection: Consider signing up for an identity theft protection service, which can help monitor your credit report and alert you to any suspicious activity.
  • Secure your personal information: Shred any documents that contain personal information, and don’t share sensitive information online unless you’re using a secure connection.

In conclusion, credit report errors can have a significant impact on your credit score, so it’s important to be aware of common errors and know how to fix them. By following the steps outlined in this guide, you can take action to correct credit report errors and protect your credit and identity. For more information on how long negative items stay on your credit report, check out our next article, “How Long Do Negative Items Stay on Your Credit Report?”

About The Author

Bill Clanton

Over the years my office has helped thousands of consumers who were cheated, ripped-off, and mistreated by debt collectors, credit reporting agencies, banks, credit unions, and car dealers. If you have a problem with a business being dishonest with you give me a call. Iā€™d love to set them straight.